Common use of The Certificate Guaranty Surety Bond Clause in Contracts

The Certificate Guaranty Surety Bond. (a) On the 11th ------------------------------------ Business Day prior to each Distribution Date, the Master Servicer shall notify the Trustee of the Required Surety Payment, if any, due in respect of any Additional Collateral Mortgage Loan that became a Liquidated Mortgage Loan at least ten Business Days (or such shorter period as the Master Servicer shall determine in its discretion) prior to such 11th Business Day and that has not been previously reported to the Trustee pursuant to this sentence. Upon its receipt of such notice, the Trustee shall complete the notice in the form of Attachment 1 to the Certificate Guaranty Surety Bond. The Trustee shall submit such notice to the Surety no later than 12:00 noon New York City time on the tenth Business Day preceding such Distribution Date as a claim for a Required Surety Payment. (b) Upon receipt of a Required Surety Payment from the Surety on behalf of the Holders of Class A Certificates, the Trustee shall deposit such Required Surety Payment in the Distribution Account and shall distribute such Required Surety Payment, or the proceeds thereof, in accordance with Section 6.01(a). (c) The Trustee shall (i) receive as attorney-in-fact of each Holder of Class A Certificates any Required Surety Payment from the Surety and (ii) disburse the same to the Holders of such Certificates as set forth in Section 6.01(a). (End of Article VI)

The Certificate Guaranty Surety Bond. (a) On Subject to the 11th ------------------------------------ terms of the Pledged Asset Mortgage Servicing Agreement, not later than the tenth (10th) Business Day prior to each Distribution Date, the Master Servicer shall notify the Trustee of the Required Surety Payment, if any, due in respect of any Additional Collateral Mortgage Loan that became a Liquidated Mortgage Loan at least ten Business Days (or such shorter period as the Master Servicer shall determine in its discretion) prior to such 11th tenth (10th) Business Day and that has not been previously reported to the Trustee pursuant to this sentence. Upon its receipt of such notice, the Trustee shall complete the notice in the form of Attachment 1 to the Certificate Guaranty Surety Bond. The Trustee shall submit such notice to the Surety no later than 12:00 noon New York City time on the tenth fifth (5th) Business Day preceding such Distribution Date as a claim for a Required Surety Payment. (b) Upon receipt of a Required Surety Payment from the Surety on behalf of the Holders of Class A Certificates, the Trustee shall deposit such Required Surety Payment in the Distribution Account and shall distribute such Required Surety Payment, or the proceeds thereof, in accordance with Section 6.01(a). (c) The Trustee shall (i) receive as attorney-in-fact of each Holder of Class A Certificates any Required Surety Payment from the Surety and (ii) disburse the same to the Holders of such Certificates as set forth in Section 6.01(a). (End of Article VI)

The Certificate Guaranty Surety Bond. (a) On the 11th __th ------------------------------------ Business Day prior to each Distribution Date, the Master Servicer shall notify the Trustee of the Required Surety Payment, if any, due in respect of any Additional Collateral Mortgage Loan that became a Liquidated Mortgage Loan at least ten Business Days (or such shorter period as the Master Servicer shall determine in its discretion) prior to such 11th Business Day and that has not been previously reported to the Trustee pursuant to this sentence. Upon its receipt of such notice, the Trustee shall complete the notice in the form of Attachment 1 to the Certificate Guaranty Surety Bond. The Trustee shall submit such notice to the Surety no later than 12:00 noon New York City time on the tenth Business Day preceding such Distribution Date as a claim for a Required Surety Payment. (b) Upon receipt of a Required Surety Payment from the Surety on behalf of the Holders of Class A Certificates, the Trustee shall deposit such Required Surety Payment in the Distribution Account and shall distribute such Required Surety Payment, or the proceeds thereof, in accordance with Section 6.01(a). (c) The Trustee shall (i) receive as attorney-in-fact of each Holder of Class A Certificates any Required Surety Payment from the Surety and (ii) disburse the same to the Holders of such Certificates as set forth in Section 6.01(a). (End of Article VI).

The Certificate Guaranty Surety Bond. (a) On the ------------------------------------ 11th ------------------------------------ Business Day prior to each Distribution Date, the Master Servicer shall notify the Trustee of the Required Surety Payment, if any, due in respect of any Additional Collateral Mortgage Loan that became a Liquidated Mortgage Loan at least ten Business Days (or such shorter period as the Master Servicer shall determine in its discretion) prior to such 11th Business Day and that has not been previously reported to the Trustee pursuant to this sentence. Upon its receipt of such notice, the Trustee shall complete the notice in the form of Attachment 1 to the Certificate Guaranty Surety Bond. The Trustee shall submit such notice to the Surety no later than 12:00 noon New York City time on the tenth Business Day preceding such Distribution Date as a claim for a Required Surety Payment. (b) Upon receipt of a Required Surety Payment from the Surety on behalf of the Holders of Class A Certificates, the Trustee shall deposit such Required Surety Payment in the Distribution Account and shall distribute such Required Surety Payment, or the proceeds thereof, in accordance with Section 6.01(a). (c) The Trustee shall (i) receive as attorney-in-fact of each Holder of Class A Certificates any Required Surety Payment from the Surety and (ii) disburse the same to the Holders of such Certificates as set forth in Section 6.01(a). (End of Article VI).